Download or read book Probate Law Reform and Nonprobate Transfers written by Grayson M.P McCouch and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The advent of widespread, large-scale probate avoidance has added a new dimension to the project of probate law reform. When the Uniform Probate Code made its debut in 1969, its primary goal was to modernize traditional probate procedures and make them more uniform, flexible, and efficient. The Code's reforms were in part a response to the rise of will substitutes which offered a ready means of transferring property at death outside the probate system. In the intervening years, however, will substitutes have continued to proliferate, while traditional probate procedures have resisted comprehensive reform. The probate system has not become obsolete - it provides valuable safeguards in many cases and remains indispensable in dealing with residual assets and resolving disputes - but it now plays a relatively modest role in regulating deathtime wealth transfers. Today, wills operate side by side with an ever-expanding array of will substitutes, and it no longer makes sense for reformers to focus exclusively or even primarily on the probate system. Accordingly, they have taken the first tentative steps toward articulating a unified law of probate and nonprobate transfers. Ultimately, the success of the reformers' project will require a sustained and vigorous effort to maintain conceptual coherence and achieve practical implementation.
Download or read book The U S Supreme Court and the Law of Trusts and Estates written by Thomas P. Gallanis and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This brief essay was commissioned by the ACTEC Law Journal for a symposium issue on The Supreme Court's Estate Planning Jurisprudence. The essay examines the relationship between recent decisions of the U.S. Supreme Court and the law of trusts and estates. The essay does so from the perspective of a law reformer active in the American Law Institute and the Uniform Law Commission. The views expressed in the essay, however, are solely the author's. The essay focuses on one of the most significant projects of trusts and estates law reform in recent decades: the harmonization of the default rules governing probate and nonprobate transfers. What impact has the U.S. Supreme Court had on this important project? The answer is not salutary. Indeed, the essay argues that recent decisions of the U.S. Supreme Court frustrate the decedent's intention and also frustrate the harmonization of the intent-effectuating rules governing probate and nonprobate transfers.
Download or read book Proposed Missouri Non probate Transfers Law written by Missouri Bar. Probate and Trust Committee. Subcommittee on Non-probate Transfers and published by . This book was released on 1985 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tentative Recommendation Relating to Non probate Transfers written by California Law Revision Commission and published by . This book was released on 1982 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How Should Non Probate Transfers Matter in Intestacy written by Mary Louise Fellows and published by . This book was released on 2020 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: As American family structures have become more heterogeneous, status-based intestacy statutes have become less suited to promoting donative intent. Indeed, numerous scholars of wealth transfer law have noted the critical need for intestacy law reform to address the needs of decedents whose donative intent does not comport with traditional family norms. We propose addressing this concern by looking to intestate decedents' non-probate transfers, such as a revocable trust, life insurance policy, 401(k) account, brokerage account, or joint tenancy with right of survivorship deed. In 2010, we, along with a co-author, published the first study to consider the relationship between donative intent with respect to the probate estate and donative intent as expressed in non-probate transfers. That study utilized a factorial research design to assess public attitudes and offered support for our new heir hypothesis, that, depending on the identity of the non-probate transfer beneficiary and the identity of the existing heir, a decedent would want a non-probate transfer beneficiary who is not otherwise an heir to be treated as an heir. The instant two-part study of estate planners produces additional knowledge about how best to integrate non-probate transfers into intestacy statutes. In the first part of our study, we conducted a paper survey of forty-five estate planners. The responses to this survey greatly influenced the second part of our study in which we conducted in-person or telephone interviews with nineteen estate planners. The findings reported in this study provide the framework for statutory reform. This study demonstrates that the new heir reform increases the likelihood of promoting intestates' donative intent in a growing number of twenty-first century familial situations.
Download or read book Recommendations Relating to Probate Law and Procedure written by California Law Revision Commission and published by . This book was released on 1982 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wills Trusts and Estates written by Jesse Dukeminier and published by Aspen Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wills, Trusts, and Estates retains the late Jesse Dukeminier's unique blend of wit, erudition, insight, and playfulness while covering all the key topics in a logical, clear organization. Interesting cases--not only fun to read, but fun to teach as well--are enhanced and connected to broader legal principles by well-written notes, questions, and problems. The Ninth Edition introduces a completely new, two-color design for a clearer presentation of core material and didactic imagery. Shaded box and"sidebarsand" insert context, background, and real-life examples throughout the text. Improved organization consolidates the material into blocks that follow an orderly and logical progression. An introductory chapter on trusts appears before nonprobate transfers, providing much-needed context for revocable trusts as will substitutes. Reorganization enhances the revised material on nonprobate transfers and trust administration, creditor's rights, trust modification, probate transfers, spousal and children's shares, and trusts. The Ninth Edition features the latest developments in statutes, law reform projects, scholarly writing, and cases, such as those on revocable trusts and harmless error in will execution. Relevant uniform law activity is discussed, including the new Uniform Premarital and Marital Agreements Act, and attention is paid to the finalization of the new Restatements on Property and Trusts. Updates to the social science work on inheritance and intestacy are presented. Attention is paid to developments affecting inheritance among same-sex partners. Features: retains the late Jesse Dukeminier's unique blend of wit, erudition, insight, and playfulness covers all the key topics in a logical, clear organization interesting cases that are not only fun to read, but fun to teach as well cases enhanced and connected to broader legal principles by well-written notes, questions, and problems Thoroughly updated, the revised Ninth Edition presents: a completely new, two-color design two colors make a clearer presentation of core material and didactic imagery shaded box and"sidebarsand" insert context, background, and real-life examples improved organization consolidates the material on wills, trusts, and nonprobate transfers into blocks that follow an orderly and logical progression an introductory chapter on trusts appears before nonprobate transfers, providing much-needed context for revocable trusts as will substitutes thorough revision and reorganization of the material on nonprobate transfers and trust administration, creditor's rights, and trust modification revision and reorganization of chapters on probate transfers, spousal and children's shares, and trusts the latest developments in cases, statutes, law reform projects, and scholarly writing new developments in cases, such as revocable trusts and harmless error in will execution relevant coverage of uniform law activity, including the new Uniform Premarital and Marital Agreements Act finalization of the new Restatements on Property and Trusts.
Download or read book Major Reforms of the Property Restatement and the Uniform Probate Code written by John H. Langbein and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In late 2011, the American Law Institute published the third and final volume of the Restatement (Third) of Property: Wills and Other Donative Transfers. In March 2012, the Restatement's two reporters, Professors Lawrence W. Waggoner and John H. Langbein, presented the Joseph Trachtman Memorial Lecture at the annual meeting of The American College of Trust and Estate Counsel in Miami Beach. Introducing the two lecturers, ACTEC President Mary Radford described them as “two icons in our field, [who] have had a hand in every major development in trust and estate law that has occurred over the past three decades...” In separate but coordinated talks, under the title “Restating and Renewing the Law of Donative Transfers,” Professors Waggoner and Langbein discussed some of the main themes of the new Restatement and of related Uniform Law Commission initiatives. Professor Langbein's lecture, revised for publication, appears here; Professor Waggoner's appears in the following Article.
Download or read book Restatement of the Law Property written by American Law Institute and published by . This book was released on 2003 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a comprehensive treatment of the American law of wills, will substitutes, intestacy, gifts, present and future interests, and other matters generally considered to be within the topic, including the construction of donative documents. Much of the subject matter of this new volume is not covered directly in prior Restatement volumes.
Download or read book Probate Reform Act of 1975 written by Indiana. General Assembly. Legislative Council. Probate Code Study Commission and published by . This book was released on 1975 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wills Trusts and Estates written by Gerry W. Beyer and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive coverage is the hallmark of Wills, Trusts, and Estates: Examples and Explanations. This well-respected text covers intestacy; wills and trusts (including non-probate assets); estate administration; wealth transfer taxation (including gift tax, estate tax, generation-skipping transfer tax); disability and death planning; and malpractice and professional responsibility. The unique Examples and Explanations pedagogy combines textual material with well-written examples, explanations, and questions to test students' comprehension and provide them with practice in applying information to fact patterns. In addition to examples designed to teach in a step-by-step manner, the book includes comprehensive questions which present a variety of issues in one fact situation. These are similar to those students can expect on a law school or bar examination. The conversational style is designed to hold students' interest. A casebook correlation chart enables the book to be used with any of the six most popular casebooks in the subject. The text's "learning by doing" approach helps students master the law and provides a non-threatening environment in which to evaluate how well they can apply what they have just learned. Practical suggestions interspersed throughout the text enhance its pedagogical value and give students an appreciation of the real-world application of their course. Sample will and trust provisions and an extensively annotated model will that includes a testamentary trust give students drafting assistance. The book is designed for students taking Wills, Trusts, Wills & Estates, Estates & Trusts, Gratuitous Transfers, and similarly titled courses that introduce property transmission upon death. Because it provides background and review material, it can also be useful in advanced courses in estate planning or wealth transfer taxation. General nationwide rules are spotlighted without being sidetracked by many individual cases. A complete, student-friendly index easily pinpoints sought-after material, as do tables that locate material relevant to the Uniform Probate Code, Uniform Trust Code, and Internal Revenue Code. Updates are available on the author's website: www.ProfessorBeyer.com. The Fifth Edition has been fine-tuned and updated to reflect the most recent developments, including the transfer of death deeds, self-settled spendthrift trusts, the Rule Against Perpetuities reform, Federal Gift, Estate, and Generation-Skipping Transfer Tax. In addition, new material is presented on the Uniform Trust Code, the rights of same-sex partners, Medicaid planning, and physician-assisted suicide. Revised examples parallel the updated content. New casebook correlation tables relate to new editions of the major casebooks, especially the Eighth Edition of Dukeminier, Johanson, Sitkoff, and Lindgren's Wills, Trusts, and Estates. Hallmark features of Wills, Trusts, and Estates: Examples & Explanations: * Comprehensive coverage of intestacy, wills, and trusts o non-probate assets o estate administration o wealth transfer taxation (gift tax, estate tax, generation-skipping transfer tax), o disability/death planning o malpractice/professional responsibility * Unique Examples & Explanations pedagogy o combines textual material with examples, explanations, and questions o tests student comprehension of the materials
Download or read book Wills and probate written by Bernard Ernest Witkin and published by . This book was released on 2005 with total page 1228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Uniform Fiduciaries Act written by National Conference of Commissioners on Uniform State Laws and published by . This book was released on 1922 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recommendations Relating to Probate and Estate Planning written by California Law Revision Commission and published by . This book was released on 1980 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Creditors Rights Against Nonprobate Assets in Washington written by Thomas R. Andrews and published by . This book was released on 2014 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing popularity of nonprobate transfers of property at death has created a "revolution" in family wealth transmission. Yet the law on creditors' rights to reach such transfers is badly confused. In some cases, exemptions from creditors' claims are far broader than can be justified. In others, existing creditors' rights are protected but undefined. In still others, it is unclear whether creditors can reach the property at all. There is no procedure for the enforcement of such rights as creditors may have no specified time limit within which claims may be brought. This lack of system invites abuse and is especially hard on involuntary creditors. The Author examines each of the most widely used nonprobate transfer mechanisms: community property agreements, joint property, multi-party bank accounts, United States Savings Bonds, life insurance, deferred compensation benefits, trusts, and other transfers payable on death. Creditors' rights under each mechanism are examined, areas of confusion identified, and specific improvements recommended.The Author proposes that, excepting specific statutory exemptions, both probate and nonprobate property be available to satisfy creditors' claims. He further recommends that a procedure for providing notice to creditors be established in situations where a personal representative is unnecessary and that procedures be established providing for the appointment, when necessary, of a personal representative to handle claims against nonprobate property. Finally, he recommends an extended time period for the bringing of claims against nonprobate property. The Author supplies a draft statute incorporating his recommendations.
Download or read book Recommendation Revocable Transfer on Death TOD Deed written by California Law Revision Commission and published by . This book was released on 2006 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book In Partial Defense of Probate written by David Horton and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For five decades, probate -- the court-supervised administration of decedents' estates -- has been condemned as unnecessary, slow, expensive, and intrusive. This backlash has transformed succession in the U.S., as probate avoidance has become a booming industry and contract-like devices such as life insurance, transfer-on-death accounts, and revocable trusts have become the primary engines of intergenerational wealth transmission. Despite this hunger to privatize the inheritance process, we know very little about what happens in contemporary probate court. This Article improves our understanding of this issue by surveying every estate administration stemming from individuals who died in Alameda County, California in 2007. This original dataset of 668 cases challenges some of the most entrenched beliefs about probate. For one, although succession is widely seen as a tranquil process in which beneficiaries settle disputes amicably and pay a decedent's debts voluntarily, both litigation and creditor's claims are common. In addition, attorneys' and personal representatives' fees are far lower than assumed. The Article then uses these insights to critique the demand for probate avoidance, to contend that probate's cautious approach to creditors should also govern non-probate transfers, and to suggest reforms to the probate process.
